JMMB among 50 best companies to work for in Dominican Republic

THE Dominican Republic subsidiary of local financial house, Jamaica Money Market Brokers (JMMB), has been voted as one of the 50 Best companies to work for in that Caribbean country.

JMMB Puesto de Bolsa, headquartered in Santo Domingo, was ranked 47th on the list compiled by Dom Rep business magazine Mercado, which cited the firm's unique 'Vision of Love' ethos that underscores both its approach to team member development and client relations.

"We are so pleased to be recognised as an employer of choice in the DR. From inception, we were clear that love — so simple yet so profound -- had to be the basis on which we would build the organisation," said an elated Donna Duncan-Scott, JMMB's Group Executive Director, Culture and Human Development.

Indeed, JMMB has always offered a different way of approaching the stereotypically sterile world of financial services. This inimitable outlook was actually labelled as doubtful and doomed to failure when the late JMMB matriarch, Joan Duncan, launched the company with the Vision of Love as its core value system. After more than 20 years, it is this culture which has endeared so many of JMMB's clients to the company and it continues to drive how team members relate to themselves, each client and shareholders.

"It is a powerful transformative force and, at JMMB, motivates the team to serve our clients and find solutions that help our clients achieve their goals. The JMMB Group has created an environment that allows team members to achieve and expand their potential and, in the process, all individual and organisational goals are achieved," Duncan-Scott said.

"As our Vision of Love statement says, we seek to create an open and honest atmosphere where ideas and concerns are valued and shared openly. There is no fear, no limitations and no boundaries," she continued. "Team members are expected and encouraged to be genuine, taking responsibility to express anything they feel, knowing that it is safe to do so. Where conflict arises team members are encouraged to 'clean it up' and find win-win solutions."

Country Manager, JMMB Puesto de Bolsa, Guillermo Arancibia, admits that he was a bit uncertain about the practicality of grounding the operations of a financial company on such a philosophy.

"I come from the cold and impersonal world of money. I was trained at a traditional bank and so I believed in productivity and profitability. They fostered in me the need to compete fairly and achieve results at any cost. Coming from a position of commercial aggressiveness, risk-taking and excessive individuality, to instead learning to stop and share decisions with the team, is perhaps the greatest behavioural shift that I had to make when I joined the JMMB family," Arancibia said.

Once he adjusted, he was able to see and appreciate the impact that taking such a stance actually has on the company's bottom line.

"The impact of JMMB's philosophy is not only reflected in the company's financial performance. It is also reflected in the warm way in which we relate to our clients, and by truly having their best interest at heart," he said, adding "I have not seen that in any other company. Internally, the spirit of teamwork and the search for constant improvement are all elements that generate greater loyalty, productivity and, ultimately, higher income and returns to investors."

The country manager noted further, "Where we are very different from other financial institutions is that JMMB truly believes and encourages teamwork, getting everyone involved in the process of sharing ideas, reaching consensus and achieving the best solutions. We defend and encourage diverse thinking."

Mercado Media Network was founded in 1993 in the Dominican Republic and is the leading entity of its kind in the Caribbean region. The company's first product, Mercado Magazine, is a monthly publication that offers high quality content in both its printed and online version. With 20 consecutive years in the market, Mercado has offered up-to-date information and leading editorials focused on themes of business, finance, economy, technology, marketing, among others.

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